This is a re-post…looking for serious buyers that can close quickly. Most of the due diligence is complete and the entire file will be shared upon executed Purchase and Sale Agreement. Cash buyers, pre-qual’d buyers will get priority to close. — More info: bsquaredcapitalpartners@gmail.com —
City Stats:
•18,169 Pop (+.4%)
•$33k Med Income
•$61k Home prices
•3.8% unemployment
Metro:
•38,248 Pop (+4.1%)
•$41.3k Med Income
•$74k Home prices
•3.8% unemployment
Park Profile:
•85 total lots (double wide)
•39 Occupied lots with homes (4 POH/35 TOH)
•37 paying lots @ $317 lot rent
•2 vacant homes (dbl wide)
•4 POH’s
•2 vacant dbl wides valued @ $20k each
•1 regular rental, nice dble wide @ $600/mon, valued @$20K
•1 office where manager lives – valued at $25K
•46 vacant lots ready to move homes in.
•Direct billed City water/city sewer, currently billed back
Underwriting NOTE Owner carry is NOT possible and price is Non-negotiable
•$317 x 37(paying) lots @ 35% exp = $91,486 NOI —
•$85,000 - shell value of (4) POH homes (50% value reduction ~ 42.5k)
Cap 9% ($1.02M) + shell ($42.5k) = $1.059M